The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K-$500K business credit.
All that’s needed to get started is your contact details (the name of your company, your name, email address and phone), how much you’d like to lend, and your monthly income.
Through the process and before settlement we’ll require confirmation of your identity but not to get started:
Once we’ve started with loans over $150,000 you will also need the following financial statements:
Let’s get started now.
Gold Coast unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
You can apply to your Small Business Loan in under 10 minutes over the phone, receive an immediate response, and the money could be in your account in 24 hours. Traditional business loans have an interest rate per annum plus other fees and charges. This business loan is a cash-based loan so you will know ahead of time the total amount to be paid, including any fees, interest or charges. Then, it is broken down into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for almost any business use, including managing cash flows, company improvements, advertising to purchase inventory, new equipment, as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans are between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
A Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the loan amount.
To be eligible for a credit that is this large, your company needs to have been operating for at least three years and generate an annual revenue of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A larger company loan can be used for almost any company use, including business renovations, to purchase new equipment or inventory or as general working capital, and much more. The loan is not available for personal reasons.
Asset security is necessary for funding of more than $150,000. It is usually as a result of an charge over assets, which could also be registered in the PPSR or filing as a caveat.
A director’s or personal ensure is a guarantee to repay credit that is generally based rather than stipulating the security of a specific asset. The person who signs the guarantee is personally liable if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including goods or assets). The PPSR allows preference over private property granted depending on the date that a registration of a security interest.
An affidavit is an official form of document to provide notice of a legal claim to a property.
If you’re applying for a Larger Business Loan of more than $250,000, we may offer a preliminary pre-approval to help smooth out the process. We may be able to apply for this without credit checks and within 6 hours of your initial application. This pre-approval is based on an initial assessment that includes answering a couple of financial health questions. It is neither an offer nor a guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you may receive may be subject to different conditions.
You can apply for an company loan if you
The application process is quick and easy. Just fill out the online application in just a few minutes, and an experienced company lending specialist will contact you to guide you through the process.
To apply for up to $100,000 you’ll require identification details (valid Driver’s License) and an NZBN/IRD that is valid and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Details for application including credit consent, 12 months of bank records, IRD statements, last 2 years finalised financial statements, and interim financial statements for the current year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K to $100K) we can often offer an answer in just one hour, provided you make your application at quality business timings and allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you decide to send us copies of your bank statement, we’ll provide the decision in as little as 1 company day.
For the Larger Business Loan ($100K and up) we might be able to provide you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Some deals have been approved within less than 24 hours.
The quickest method can be ensure you apply during normal company hours, and let us use the advance bank verification link to verify your bank account information online. If you send us the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide a response in one hour – provided you apply during standard business times and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you want to send us copies of your bank statements, we are able to provide a decision within one business day.
For Larger Business Loans ($100K or more) we might be able to provide you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval document, you will need to wait about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Certain transactions have received approval within less than 24 hours.
The most effective method is to ensure you apply during standard business hours. You can also allow us to use the advanced bank verification system link to confirm your bank details online. If you choose to send us duplicates of your banking accounts, it takes a bit longer.
We provide loan amounts between $5,000 and $500,000. When you submit an application for a specific amount we consider a variety of factors that determine your health of your company and the amount of payments your company can afford. The total amount of your loan will be contingent on the specifics of your company.
When you submit an application for a set amount, we consider a variety of factors to assess your well-being that is your business as well as the amount of payments your company will be able to support. The amount you receive from your loan will be determined by the particulars for your business.
If you decide to apply for the business financing, we’ll assess the risk assessment of your company and provide you with a customised offer, including the amount of the loan, the duration and interest rates. The business loan is an upfront cost loan therefore you will be aware of the total amount payable including any charges, interest rates or fees.
The interest rates on business loans rates depend on several factors like the amount of money borrowed, what business assets the money are used to purchase in addition to the industry that the business is in, how long the business has been in operation, how long the business has sufficient cash flow to cover the loan, as well as the overall health and creditworthiness of the company.
There are no hidden fees for our business loans. You’ll be aware of the amount it is that you be required to pay, and when, from the day you sign up. There’s not any compounding interest and no extra fees (as long as you make your payments punctually).
We do not charge an application fee. You are able to get a cash loan with no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved with establishing and managing the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can decide to repay the entire amount of the advance loan at any time.
If you choose to do this please call our helpful company loan specialists. They will provide you with the details of your repayment along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount and accrued interest to the date of early payout plus 1.5 percent of the principal remaining and any outstanding fees.
To help you avoid missing payments and to work your cash flow schedule, we provide repayments either daily or weekly. These are automatically deducted from your designated business account.
Protecting your information, and making it clear how we collect data, process, exchange and protect your information, is of huge importance and is a crucial part of our relationship you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to security for our clients and privacy. We make use of an advanced banking verification system to instantly verify your bank account information online, allowing us to offer a fast response.
Asset-based borrowing occurs when the company owner uses the assets they have to obtain a loan. The asset can be either a personal asset like the family home or a business asset such as a vehicle as well as a piece of machine.
The majority of banks, not just the major banks, prefer to make loans secured by assets. If you are having difficulty paying back the loan then the asset might be sold by the lender. In essence, it is a way of securing new financing by using the worth of the asset you already own.
For loans up to $150,000 there is no requirement for asset security in advance to gain access to the funds, however we do require the personal guarantee. If you adhere to the loan terms (as stipulated in your loan contract) Asset security is not needed. If you take out loans in excess of $150K generally, you can get a personal guarantee and security in the form an asset charge.
